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The Ripple price

Ripple is ledger technology for a digital payment network that performs financial
transactions, known as the Ripple payment protocol and a cryptocurrency. Chris
Larsen and Jed McCaleb co-founded the Ripple company, which entered the market
in 2012. The Ripple price is closely tied to the ledger technology on which the
system was built, so in that way, it’s very similar to other Altcoins like Ethereum,
EOS or others.

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Since the writing of this article, the Ripple price has been fluctuating for the
best part of the last couple of years, For now, it has recovered 70 percent since
the lows in mid-April 2018. One billion XRP was released in January, February and
March 2018. This release came from a cryptographically secured escrow account.

Ripple is one of the promising new Altcoins on the virtual exchange market and
also, one of the more prominent ledger technology projects in the last few years.
As of the first week of March 2018, XRP is the third leading crypto-coin by
market capitalisation.

“A distributed ledger is basically a shared database that allows institutions to
directly send and receive money in a trustworthy fashion without a middleman. As
a result, we have the capacity to connect the world’s payment systems for the
first time. That’s a big deal.”

- Chris Larsen, Co-founder of Ripple

What is Ripple?

Before we continue with the topic, we have to answer a few fundamental questions
about this cryptocurrency/ledger technology.

What is Ripple?As we mentioned above, Ripple is a digital payment protocol called the Ripple
Transaction Protocol (RTXP) or the Ripple protocol. Ripple functions on an open
source, which is a decentralised peer-to-peer platform that performs the
continuous transfer of money in any form. This means that you can transfer fiat
currencies (AUD, USD and EUR) and cryptocurrency ( Bitcoin, Ether and Litecoin) on the same platform.

The Ripple protocol is so convenient and accessible because it allows banks and
other financial service companies to incorporate it into their systems so the
customers of those organisations can freely use it. The simplest way to understand
Ripple is to see it as a combination of the open-source ledger technology
contributing to the bank’s function. Ripple managed to incorporate itself into
the banks to reach a wider audience.

The “consensus” is a big part of the Ripple protocol. Because in reality, Ripple
is based on a shared, public database or ledger where every “actor” has to reach
a consensus to participate, which allows for payments and exchanges in the
distribution process. As we mentioned above, every organisation can register as
a “middleman” and start authorising exchanges for currencies, maintain liquidity
or transfer transactions on the network.

Some of the most famous banks in the world have started adopting the Ripple
protocol, like MUFG ($2.6 trillion), Credit Agricole ($1.82 trillion), Bank of
America, Mizuho Financial Group, Santander, Bank of Australia and others.

What is XRP?XRP is the ticker symbol for Ripple’s native cryptocurrency or its native digital
asset. You can trade XPR or Ripples on virtual exchanges just like any other
cryptocurrency. One of the prominent characteristics of the Ripples is that they
are used as a bridge currency, and they can be exchanged for crypto-coins or fiat
currencies with no restrictions.

The Ripple value

Ripple value is mostly concentrated in the technology, rather than the
crypto-coin itself. The Ripple protocol provided banks and other organisations
with the ability to move assets around the world quickly, and their acceptance of
the ledger technology is what truly makes Ripple valuable.

However, as with any cryptocurrency, there are some negative sides, and Ripple
has received criticism from other cryptocurrency “rivals.” The fact that the
Ripple protocol tends to have a more centralised nature than the other Blockchain
platforms (Bitcoin, Ethereum and EOS) is in direct disparity to the archetypes
and benefits of decentralised Blockchains.

The end goal for the Ripple technology is the implementation of the ledger by the
big financial institutions, which would change the way we transfer money, fiat or
crypto. It will not make a difference.es the process of buying and selling any crypto-coin easier and
safer.

The Ripple XRP price

The Ripple XRP price, as of the writing of this article, is 1.17 AUD, with a
market capitalisation of 45,950,573,461 AUD. It has a current circulating supply
of 39.2 Billion coins and a total exchange volume of 790,127,747 AUD.

Exchange Ripple to AUD on Blockbid

If you are thinking about exchanging Ripple to AUD, Ethereum to AUD, Bitcoin to AUD, or some other famous Altcoins, you should consider using the
Blockbid exchange.

Blockbid is a secure, verified, cryptocurrency exchange platform based in Melbourne, which
facilitates the trading of more crypto-coins on a single platform than any other
exchange in the world. This feature of Blockbid enables traders to buy and sell
with the mainstream fiat currencies and popular cryptocurrencies on the same
platform, without losing time or money on transferring between exchanges.

Every level trader can understand the user-friendly interface without too many
complications. The design of the exchange is straightforward and sophisticated,
so previous trading experience is not required for you to participate on the
exchange. Blockbid offers flat 0.1 percent transaction fees, which are the lowest
rates available for transactions.

Another essential feature of the Blockbid exchange is that it can perform up to 1
million transactions per second because the system was built from the ground up
to withstand high traffic. Moreover, if you are worried about the security of
your crypto-assets, you should know that 95 percent of them are stored in an
offline multi-signature hardware vault.

Blockbid is also one of the first virtual exchange platforms with complete
cybersecurity insurance coverage. Because it’s based in Australia, it is fully
compliant with Australian cryptocurrency law and AML/CTF guidelines, and it’s
registered with AUSTRAC. You can trade Ripples on the exchange, along with other
crypto-coins.

The Ripple price has been varying since it first came out in 2012, and the
all-time high so far was recorded on Saturday, 30 December 2017, when it reached
2.44 USD.